Predictions on Ethereum Price 2019

Ethereum has historically been a major cryptocurrency and has now retaken its place as the second largest cryptocurrency in the world. Therefore, the most frequently asked question is how will Ethereum price go in the future, what are the factors that affect Ethereum price, is it worth investing etc. In this article, we will give some insightful answers to the questions above based on several enthusiastic traders’ analysis, give our the latest Ethereum news, and some predictions on Ethereum price in 2019.

Factors that affect Ethereum price

First of all, as in any cryptocurrency market, the factors that affect Ethereum price are the supply and demand as most cryptocurrencies are entirely speculative assets. If its supply and demand are unequal, the price goes up or down, depending on which one is predominant. So the question can be further redefined as what decides the supply and demand of such an asset?

Most cryptocurrencies are purely speculative and as such the demand mostly comes from the belief that the next person will buy the coin for a higher price than you bought it for. However in the case of Ethereum, and some other altcoins like EOS, the utilitarian factor and the community supporting the projects built on the blockchain are also very important factor affecting the price as many people will buy to support the projects they believe in. As such Ethereum are very susceptible to price movements due to technical trading factors but also due to fundamentals factors such as new product releases. To note, these two factors put together generally give out their own resistance and support levels.

We can infer from the information above that demand is driven by the actual utility of Ethereum and the expectation of the next buyer. As for Ethereum, what gives it value is the kind of products it is used to build and what can be exchanged. A very important usage of Ethereum is the decentralized applications. The emergence and preeminence of DAPPs on the Ethereum blockchain show the possibility of Ether becoming the standard and most widespread blockchain for DAPPs and possibly other applications.

Understanding the factors that affect Ethereum price is crucial in making predictions on it. Now let’s take a look at some latest Ethereum news before we list some predictions on Ethereum price in 2019.

Latest Ethereum news

The latest news that deserves attention is that, according to COINSWITCH, on Jan.15th, the Ethereum core developers and security community decided to postpone the planned Ethereum Constantinople hard fork that would have ideally occurred on Jan.17th, 2019 at block 7,080,000. It appears that there is some vulnerability that may cause trouble in an attack. The attacker might get the leverage to steal other people’s Ether.

To note, that on Dec.29th, 2018, Ethereum’s market capitalization reached $15,293,262,380 and is valued at around $150 USD. The three upcoming three hard forks may be the reason for the momentum in Ethereum price, which is Classic Vision Hard Fork, Ethereum Nowa Hard Fork, and Constantinople Ethereum Hard Fork.

So keep an eye on the latest Ethereum news about the Hard Fork to make your own prediction on Ethereum price in 2019.

Predictions on Ethereum price 2019

At this point, provided that you’ve known the basic information about Ethereum price, we will list some valuable predictions from experienced traders and investors.

Many are convinced that the price of Ethereum will recover from its relatively low price in 2018. According to one analyst, Ethereum will hold 25% of the entire cryptocurrency industry, which he predicts will have a total market capitalization of $4.5 trillion in 2020.

A second one implies that with the launch of ETH 2.0, the blockchain speed multi folds will be improved. It will further evolve the ETH space and thus instill people’s faith for ETH based platform and tokens. As mentioned before, the price will go up when more people believe in its utility. A strong jump can be anticipated, causing Ethereum price to double——from 83$ to 160$.

Recently the founder of Joe Technologist.com and blockchain enthusiast, Joseph Raczynski predicted that Ethereum could hit $1,200 by the end of 2019. He further mentioned that the Ethereum network has the largest developer community. What’s more, Ethereum’s proof of concept algorithm is the most popular consensus among institutional investors.

Meanwhile, Nigel Green, CEO of a leading global financial consulting firm said that the price could hit $2,500 by 2019 due to increased use of smart contracts and demand for cryptocurrencies.

Most predictors agree that the volatility of Ethereum makes it hard to offer a short term prediction. They only publish their own opinion based on the research they conducted themselves. You’d better use these predictions on Ethereum prices in 2019 merely as references, and find out your own way to do the analysis.

This concludes today’s article about the factors that affect Ethereum price, the latest news about Ethereum, and the predictions on Ethereum price in 2019. We hope you learned a lot, enjoyed the read, and stay tuned for more great content.